Press Release

VERITAS Announces Public Beta of Project "Panther"

Delivering continuous data protection and simple, web-based recovery.

CHICAGO -- STORAGE DECISIONS - May 25, 2005 - VERITAS Software Corporation (Nasdaq: VRTS) today announced the worldwide public beta of a true continuous data protection solution delivering the industry's first and only web-based end user file recovery functionality, code named, "Panther." Built from proven and trusted technology in market-leading VERITAS Backup Exec software, Panther will deliver true continuous data protection and empower end users to recover files through an intuitive, simple web browser interface on their own individual desktops or laptops, eliminating the need for IT assistance and helping ensure that data is always protected and available. The Panther beta software can be downloaded beginning on June 2, 2005. Please visit: www.veritas.com/panther.

Today, when end user files are lost, corrupted or overwritten, IT departments must intervene to locate and recover files from the most recent backups from tape. This method consumes valuable IT resources that would otherwise be used to address critical and strategic business needs. With the introduction of the Panther functionality, VERITAS delivers on the promise of true continuous disk-based data protection by capturing granular changes to individual files in real-time. Because files are saved to disk, Panther provides the ability for end users to retrieve previous versions of files through a simple, web-based interface without the assistance of IT departments, helping improve productivity levels for both end users and IT administrators and reducing overall administration costs.

"More and more customers today are evaluating and adopting continuous data protection technologies for requirements as diverse as enabling regulatory compliance or perhaps to simply restore data more quickly," stated Peter Gerr, Senior Analyst at Enterprise Strategy Group. "VERITAS' Panther solution empowers end-users to recover data, freeing administrators for more productive or strategic projects. By leveraging its field proven Backup Exec technology, VERITAS is able to deliver a continuous data protection solution that is unique in the industry -- providing users with innovative features and world class reliability."

True Continuous Data Protection Delivered

Further delivering on the company's commitment to providing continuous data protection, with the introduction of Panther, data is protected in real-time for revolutionary data protection and faster file restores. Point-in-time snapshots of data are created at the block-level, to enable versioning of data files -- new functionality to Panther. With true disk-based continuous data protection, organizations no longer have to perform complex full, incremental or differential backups of business critical data to tape, eliminating wide gaps in data protection associated with traditional tape-based backup.

Web-Based End-User Restore -- Backup Exec Retrieve

VERITAS brings the power to the end user with Backup Exec Retrieve, a simple, web interface that allows previous versions of files to be retrieved without contacting IT. Retrieving lost, corrupted or overwritten data is as simple as searching for and downloading a file from the Internet. By empowering end users with the ability to restore their own files without IT intervention, IT resources can focus on business critical needs in the organization. Using a standard web browser, no additional software installation is needed on individual desktops and laptops.

Integration with Backup Exec

With the Panther functionality, customers can leverage their current data protection investments and infrastructure with the existing installation of VERITAS Backup Exec software. Introduced in version 10.0 of Backup Exec for Windows Servers, the Backup Exec SmartLink technology integrates with Panther software to deliver integrated monitoring. Administrators will have the ability to view job status and alerts of Panther's continuous protection jobs from the Backup Exec Console, simplifying overall management. As productivity and resources continue to be a major focus for organizations of all sizes, the Panther integration helps IT manage more with less. VERITAS delivers the only true continuous data protection solution integrated with traditional tape backup, eliminating the need for multi-vendor installations.

About VERITAS Software

VERITAS Software, one of the 10 largest software companies in the world, is a leading provider of software and services to enable utility computing. In a utility computing model, IT resources are aligned with business needs, and business applications are delivered with optimal performance and availability on top of shared computing infrastructure, minimizing hardware and labor costs. With 2004 revenue of $2.04 billion, VERITAS delivers products and services for data protection, storage & server management, high availability and application performance management that are used by 99 percent of the Fortune 500. More information about VERITAS Software can be found at www.veritas.com.

This press release may include estimates and forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. These forward-looking statements involve a number of risks and uncertainties, including the risk that our products will not perform as well as expected, the risk that we will not gain market acceptance of our products and services, the risk that we will not be able to maintain the quality of our end-user customer and partnering relationships and the risk that we will not manage our business effectively, that could cause the actual results we achieve to differ materially from such forward-looking statements. For more information regarding potential risks, see the "Factors That May Affect Future Results" section of our most recent annual and quarterly report on file with the SEC. We undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date hereof.

"As a financial institution, one of our top priorities is ensuring our critical customer data is secure and available. Panther is a perfect fit for us because it automatically captures changes in real time and will ensure that our customers' information is continuously protected," said Robert Graham, senior vice president of information systems at Farmers and Merchants Bank, a privately held regional bank with 20 branches across Los Angeles County and Orange County, California. "With Panther's simple web browser interface, our users will be able to quickly and easily restore their own files without IT staff intervention, improving our productivity and service to end users."

Copyright 2005 VERITAS Software Corporation. All rights reserved. VERITAS, the VERITAS Logo, and Backup Exec are trademarks or registered trademarks of VERITAS Software Corporation or its affiliates in the U.S. and other countries. Other names may be trademarks of their respective owners.